Deals
Elliott Management Increases Passive Stake in Dell Technologies
- Investment firm now holds about 5.6 percent stake in Dell
- Dell can boost share price distributing VMware, firm believes
Photographer: Brent Lewin/Bloomberg
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Elliott Management Corp. has upped its stake in Dell Technologies Inc. and believes the company can increase its share price by taking actions including distributing its stake in VMware Inc., according to people familiar with the matter.
The New York-based hedge fund, run by billionaire Paul Singer, increased its passive stake in Michael Dell’s technology giant to 9.6 million shares, or 5.6 percent, from about 6.3 million shares previously, according to a regulatory filing Monday.